Autumn Statement: charities
In his Autumn Statement, the chancellor said that he wished to put beyond doubt that entities established for the purposes of tax avoidance would not have any entitlement to charitable tax reliefs and that the measure would be introduced in the Finance Bill 2014.
Whether the chancellor intends to create a new definition of a charity, or simply explicitly reinforce existing legislation remains to be seen but until the draft bill is produced charities will have very little visibility of how the changes may affect them. We will maintain a watching brief as the legislation develops.
A number of other announcements were made by the chancellor that will affect charities…
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